Caveat emptor in the financial services market

Taylor, Doug
November 2007
Consumer Policy Review;Nov/Dec2007, Vol. 17 Issue 6, p265
Financial Services firms and trade associations representing them have long lobbied for consumers' taking more responsibility when purchasing financial services products. This article looks at why arguments for a clearer definition of caveat emptor go beyond justified consumer responsibilities where financial services are involved and what would have to happen to change this. Using the example of payment protection insurance, this article sets out the problems consumers are faced with when choosing financial services products.


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